tv Cashin In FOX Business August 3, 2014 9:30am-10:01am EDT
on a lot of levels. >> if you're going to play the sector play, i don't like the overall space here. >> that's if for forbes on fox. thanks for watching. have a wonderful weeke the number one business block continues. mr. president, we're asking for you. you're spending billions of dollars in texas, but we have a problem here in chicago. >> wow, if you think chicagoans are ticked off at president obama, wait until they hear this bomb from their own mayor. telling the white house, send illegals his way. and it ain't just chicago. illegals coming to a city near you. plus americans are working harder but have less to show for it. households deflating, so whose fault is it? and madonna, celebrities mouthing off over the war. hollywood, how about you stick
to entertaining. lights, camera, action, "cashing in" starts right now. hi, everyone. welcome, so how do people of chicago people about their mayor inviting illegals to the city? watch. >> i say leave them where they are. >> we have kids that were born here and they don't want to take care of them. >> you can't find a solution for your people in your own backyard, why would we drag somebody else in. >> the windy city, crime is up and people's parks is down. michelle, cities like this can't handle the illegal burden. should they? >> where are they going to get this money? illinois has $300 billion in debt. they are hundreds of billions of
dollars in pension liabilities. how is sending illegal children to a war zone because that's basically what chicago is, how is that any better than where they are coming from? fourth of july weekend alone there were 82 stabbings in chicago. they need to focus on the high unemployment in chicago, the crime instead of pretending that he's mother teresa when we know he's not. >> chicago, your hometown, you think it's okay to send illegals to chicago? >> i don't want to pay for them. eric, chicago is full of immigrants. it's the fifth largest hispanic population in the country. these so-called illegals actually produce. they bus tables, they clean people's houses. a lot of chicagoans want to hire them because it betters their lives. the problem isn't immigrants. the problem is paying for them and no one has a right to free housing like mayor rahm is proposing. if it's paying for illegal
immigrants, make them legal, problem solved. >> pull up the full screen. let's talk about what's going on in illinois. unemployment rate, look at that. 43rd out of 50 states. state government debt, 48th. these are bad, bad numbers. and the one that really, really should strike, illinois people leaving the state, the second worst amount of people leaving the state of illinois. so is it really wise to be taking these illegals right now? >> absolutely. no doubt about it. for one reason. god bless us, we are americans. these are children. we have done this before as a country. i absolutely agree with our colleague george will, who on fox news sunday said that we have over 3,000 counties in this country. that would be around 20 children per county. this is something we can do. and on the broader immigration
issue, if we did actually welcome all of the undocumented immigrants and make them legal, our economy would benefit by billions of dollars. by not doing it, we have lost $900 billion. >> take a look at this map. other cities who welcome illegals, new york city, cincinnati, des moines, los angeles, san jose, mayors say bring illegals my way. what do you say? >> well, i find this whole conversation somewhat depressing. i don't know how people -- my colleagues, all of you, how you can embrace something that starts with the word illegal. you have nowhere to go. if they are illegal, they are illegal. if i suddenly say i'm going to take all the bank robbers in the united states and all the murders and make them legal, that's crazy. you can't have this conversation. in other words, we have in this country people who have gone
through the process, legally, it's a discredit to them. >> so make them legal. that's what we're talking about. >> hey, hey. >> i agree. make them legal. that's fine. they have to go through the process. >> the city will actually flourish. what is the root -- >> you don't know what you're talking about. >> let me finish. >> you have no idea what the process is to go through to make somebody legal. >> chicago experienced a great migration back in the early part of the 20th century. southern african-americans came up here. it was before all the handouts. >> hold on. >> finish that thought. i like where you're going with that. >> that's the point. people who come here who want to work and produce, the city
flourished as a result. so the problem isn't immigrants. the problem is giving people money that they did not earn. >> this is not a monetary question. this is not about money. this is about law. this is about doing something right. >> you're a big supporter of obamacare then because that's the law as i don't want to go obamacare right now. >> michelle, we're hearing two very convincing sides. as jonathan points out, one of the things that ruined japan, the last decade, a falling birth rate and no one wanted to fwo to the place. at least we're fortunate that people still want to come to this country. >> i think immigrants are great for the country. the problem is our entitlement state. that's the problem. all these people are going to cost taxpayers money. the problem that i have with that. it is true. and you know bha you're doing, you're incentivizing people to
come here. >> we will make more money from the revenue that we get if we legalize these undocumented americans. all of the experts agree if we bring them in out of the shadow, get them paying full taxes, our revenue will actually increase. >> will you let me talk? >> go ahead, michelle. make your point. >> the point is that you are encouraging more people to send their children on this very dangerous trip to america. if you allow all of these young people to become american citizens, more people in central america are going to start send ing their children here because they think their children will get amnesty. that's a problem and it's unfair. >> let me jump in here. >> it is a good thing we have a country that people want to come to. this is how we are so strong. come on. get with this, guys. this is what built america. >> what i find very striking.
you know the loudest opponents of the illegals coming across is people on the lower end of the income scale. they are the ones that are going to be hurt the hardest with illegals coming across. people on food stamps. they say keep the mexicans, the central americans, keep them there. that will take away from our ability to get stuff. >> they are wrong. they are wrong because methods have convinced them that there's some sort of competition. this will actually help them. >> why do you reduce -- you're taking a moral question. >> you're morally bankrupt when you start that question with illegals. you're making it a monetary question. it's not financial. it has to do with the law. if you abandon the law, abandon the united states. get the hell out yourself then. that's the whole point. >> go ahead, john. >> that's the whole point.
we're talking about changing the law. immigrants come in and they start at the bottom. they take the job that many americans don't want to take and they work their way up. that's the story of every immigrant group that's ever came to this country. to michelle's point the problem is entitlement. that's how you fix the immigration program. >> we're probably all saying the same thing. it's a heated debate and likely to go on further and further. great debate, you guys. we have blown up on social media. not only has our hash tag trended, we approached 100 million. you are being heard. make the countries including mexico pay for our cost of feeding and housing their illegal citizens. here's what e we should do. i left it blank.
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can make. take a look at this sobering stat. their net worth has plunged 36%. you can blame george bush and president obama for this. >> ip indeed. there's no limit on wealth creation in a free country. there's no limit on jobs. there's no limit on a better quality of life for all. the problem is that as you pointed out for quite some time, we haven't been a prfree countr. all the regulations and controls all the interventions are forcing the economy that can't create wealth and that's why all the things we talked about that try to help the economy have only added debt and retarded our growth. >> not only are household net worth, but household incomes have gone down as well. who do we blame? republicans, democrats, or everybody in d.c.?
>> i don't think -- i think you have to blame the congress when you go all the way back to before the collapse in 2007 of the banking system. the thing is, eric, the first part of that, 2002 to 2007, it actually o expanded. most of it was related to the housing because of the collapse of the housing market because that's where most people's net worth was. if you identify where did it come from, it dame kaim pr the depreciation of their homes. if you go dwrond beyond that, you can't find a heck of a lot of decline. >> so we can thank president clinton, we can thank barney frank. these guys had the idea maybe we should have, i don't know, a mansion on every street, a bmw on every driveway as well. they really are the ones who put sub prime loans under people who couldn't afford them.
>> well, eric, i want to get away from republicans and democrats on this one because who do i blame? the people who sing that song for the love of money, you will steal tr your mother, you'll rob from your brother. who is doing that? the folks on wall street. ceos, whose salaries have increased 800% in the last 30 years. productivity is up, profits are up and how have they thanked their workers? let's focus on the income part. why aren't incomes growing? because ceos have not done anything to support their workers. now back to politicians, conservatives say we are not going to raise the minimum wage which would raise all wages. first it's the wall street folks and then conservatives. >>. that's the solution, raise the minimum wage. >> it's not the republicans, it's not the democrats, it's the government. they are the one who is are
standing in the way of this economy growing. the most economic growth that we have seen through this entire so-called recovery coincided with the government shutdown. we saw the same thing when bill clinton and gingrich shut down the government. that's not a coincidence. when the government is shutdown and there are tons of bureaucrats taking money from taxpayers intervening in the market, that's when we see economic growth. fst not about raising the minimum wage. get out of here with these terrible ideas. >> we have to get out of here. thank you very much. coming up, hollywood creating a drama over the israeli war. how their comments wondering what that is? that, my friends, is everything. and with the quicksilver card from capital one, you earn unlimited 1.5% cash back on everything you purchase.
hiding a captured israeli soldier. >> tinseltown sounding off on the gaza/israel war. madonna and mia farrow are catching flak for criticizing israel. michelle, should they just stick to making crappy songs and unwatchable movies? >> yes. i don't know why these celebrities think just because they're famous that they're smart and they should be talking about politics. like you said, they should stick to their bad tv shows, their bad music. they should leave politics to us here on "cashin' in" and the folks on twitter. >> wayne, some of your pals in hollywood made those comments and they back tracked and saying oh, i really don't know what i'm talking about on foreign policy. what was i thinking about.
>> well, i don't blame them, eric, i blame the press. why would the press do that? you wouldn't go to a brick layer to get your teeth fixed so why would anybody go to hollywood celebrities and expect them to expound on foreign policy that made any sense? it's dumber than a box of hammers. i don't get it. but i blame the press. i don't blame my fellow people in hollywood. >> sometimes they put them up on social media and whatnot. your thought on celebrities and hollywood weighing in on foreign policy? >> hey look, lord knows we don't need more pundits, but this is america. they have every single right to do that, and they're putting their brands on the line. so i think that it says a lot about how seriously they take this. i don't understand why so many people think that just because you have makeup and a microphone, never worked in politics, that you have something to actually offer to political conversations. that's not just a celebrity problem. >> you're talking about me, i guess. what about it here? >> no.
>> there's a serious conflict going on in the middle east. do we really want to hear hollywood talking? >> i think joan rivers has been on the right side of this. that's what i'm amazed is why are so many hollywood celebrities on the wrong side. you've got israel, a western modern country committed to free speech, committed to gay and lesbian rights, committed to freedom and individual rights. on the other hand you have some tribal islamic savage ry that i the middle east. i'm all for people having a political opinion but they should support israel. >> i wear this flag pin right here that's got an israeli and american flag side by side. however, i guess i could be -- maybe i'm one of them doing the same thing. >> no, no. no, no, eric, you can't compare yourself to mia farrow, you have a lot more brains than that woman. >> wayne, do you want to agree with her? >> well, as i said, i don't blame -- i don't blame my federal compatriots in hollywood. they have the right to talk.
they can say anything they want to say. >> why do they always hate on america? >> you know what, john, you're 100% right. can we just remind them that hamas is a recognized terrorist organization? let's leave it right there. i'm going to say thank you, great week you guys. coming up, don't mess with america's major source for power. a message for the obama administration from a democrat. america must be waking up. >> i'll make sure president obama gets the message. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen.
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wake up, america. the free market capitalism system, unleash it and wealth innovation and prosperity follow right behind. on the other hand elect liberal lawmakers who cripple our businesses with excessive regulation and pick the winner, need truth? medtronic just announced they have renounced their u.s. domiciles leaving for countries more friendly business laws. we need to demand government get out of the way of your businesses. get your guroreedy and corrupt hands out of our wallets. just three states and a d.c. court saying no more to the oppressive rules and regulations our big government demands. to west virginia, where president o. is in a battle with the coal industry. all those jobs. a democrat running for senate is
warning the white house, back off. >> where do they think their electricity comes from? i'll make sure president obama gets the message. >> keep your eye on her. to texas where governor rick perry is sick and tired of waiting for the obama administration to act on the illegals coming over his border. to colorado, where the state legalized marijuana. colorado pot business is smoking hot with revenues in the hundreds of millions of dollars. tax revenue estimated at over $30 million this year alone. take that, obamanomics. and to a d.c. court where a federal judge struck down a ban on handguns outside the home. the judge ordering d.c. to allow concealed carry citizens. way to go, west virginia, texas, colorado and d.c. court. you realize what we've been saying for two years. let the free market be free. allow capitalism to work,
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